Dogecoin (DOGE) today was today in high spirits as it traversed the resistance levels to hit new ATH. The popular meme coin grew by about 36% to reach an ATH of 0.0960790 USD today. However, upon reaching the new ATH, DOGE staggered and pulled back and at the time of writing, DOGE was trading at 0.0903861 USD on Binance.
DOGE is on the top 20 biggest cryptocurrencies by market cap where it currently occupies position 14 on CoinMarketCap. Today's price spike has no link to any specific news or activity as its usually case associated with Elon Musk's praise of the coin. But, the spikes comes a day or few hours before the historic listing of Coinbase on the NASDAQ exchange.
Dogecoin has a circulating supply of 129,168,787,593 DOGE and it is uncapped meaning there is no maximum or total supply of the coin hence mining of the coin is infinite unlike Bitcoin with a maximum supply of 21 Million BTC. And, this on my opinion may be one of the factors limiting growth on the price of DOGE. However, DOGE remains the popular meme coin and its fans and users can buy or sell it at ATMs across America. The first DOGE ATM was opened in Vancouver in 2014 and to date there are about 1800 ATMs where Dogecoin can be bought and sold. This means that despite its very low price, DOGE still one of the mostly used coin and continues to gain public affection which might result in its price hitting $1 one day.
With the public listing of Coinbase, many people are anticipating that a lot of cryptocurrencies especially those available on Coinbase will a few enjoy a positive vibe. We will see how the market reacts to the listing of Coinbase.
Are we going to see DOGE going to the moon and making new ATH?
